Tech and network analyst Ali Martinez assessed the Ripple XRP market and said it could provide an opportunity for investors to make a profit.
Given the recent changes in the Ripple-SEC lawsuit, analysts are now monitoring its own cryptocurrency company, XRP. Technical and network analyst Ali Martinez assessed the XRP market and presented an interesting takeaway. XRP can provide “an opportunity for investors to make a profit,” he said.
Martinez used the 30D Market Value to Realized Value (MVRV) index to validate his theory and tweeted that the index had recently dropped to -0.91%. This suggests that “the downtrend is approaching exhaustion.” Over the past year, every time “MVRV fell below 0%, it served as a signal to buy XRP.”
Moreover, XRP whales “seem to be back in accumulation mode again.” Over the past week, the number of wallet addresses holding “over 10 million XRP tokens” has increased by about 4.90%, according to Santiment. In addition to the sharp increase in the number of whales, about 15 new whales have joined the network in the last seven days alone.
It was previously known that Ripple XRP is strengthening decentralization with a new validator.